Goodwill Industries Of Monocacy Valley Inc
- Assets
- $0.0
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 623
- Location
- Frederick, MD
- Founding
- 12/1969
- Data as of
- 10/2020
- EIN
- 23-7047548
Organization Overview
Goodwill Industries Of Monocacy Valley Inc is located in Frederick, MD. The organization was established in 1969. According to its NTEE Classification (J32) the organization is classified as: Goodwill Industries, under the broad grouping of Employment and related organizations. As of 10/2020, Goodwill Industries Of Monocacy Valley Inc employed 623 individuals. Goodwill Industries Of Monocacy Valley Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2020, Goodwill Industries Of Monocacy Valley Inc generated $13.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.8% each year . All expenses for the organization totaled $15.3m during the year ending 10/2020. While expenses have increased by 40.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
GIMV CREATES HOPE, JOBS, AND FUTURES IN THE LOCAL COMMUNITY BY PROVIDING EMPLOYMENT ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETAIL SALES OF DONATED GOODS - THE SALE OF DONATED GOODS ACCOUNTS FOR 94% OF THE REVENUES GENERATED BY THE TWO MOST SIGNIFICANT PROGRAM SERVICES OF THE ORGANIZATION. SALE OF DONATED GOODS FUNDS THE ORGANIZATION'S MISSION BY CREATING JOBS, JOB TRAINING, AND JOB COACHING FOR THOSE WITH CHALLENGES TO EMPLOYMENT AND THE PROFITS ARE USED TO FUND PROGRAMS NOT SUPPORTED BY OTHER MEANS.
EMPLOYMENT SERVICES - EMPLOYMENT SERVICES PROGRAMS ARE DESIGNED TO PROVIDE LIFE, JOB, AND SOCIAL SKILLS TO THOSE WITH DISABILITIES AND OTHERS WITH BARRIERS TO EMPLOYMENT WHO WOULD OTHERWISE NOT BE EMPLOYABLE. PARTICIPANTS ARE ABLE TO SOCIALLY INTERACT WITH OTHER INDIVIDUALS AND ARE ABLE TO FEEL A SENSE OF ACCOMPLISHMENT FOR COMPLETING ASSIGNED TASKS. THESE PROGRAMS ARE FUNDED BY GRANTS FROM THE MARYLAND DEPARTMENT OF HEALTH AND MARYLAND DIVISION OF REHABILITATION SERVICES.
RETAIL SALES OF DONATED GOODS - THE SALE OF DONATED GOODS ACCOUNTS FOR 94% OF THE REVENUES GENERATED BY THE TWO MOST SIGNIFICANT PROGRAM SERVICES OF THE ORGANIZATION. SALE OF DONATED GOODS FUNDS THE ORGANIZATION'S MISSION BY CREATING JOBS, JOB TRAINING, AND JOB COACHING FOR THOSE WITH CHALLENGES TO EMPLOYMENT AND THE PROFITS ARE USED TO FUND PROGRAMS NOT SUPPORTED BY OTHER MEANS.
EMPLOYMENT SERVICES - EMPLOYMENT SERVICES PROGRAMS ARE DESIGNED TO PROVIDE LIFE, JOB, AND SOCIAL SKILLS TO THOSE WITH DISABILITIES AND OTHERS WITH BARRIERS TO EMPLOYMENT WHO WOULD OTHERWISE NOT BE EMPLOYABLE. PARTICIPANTS ARE ABLE TO SOCIALLY INTERACT WITH OTHER INDIVIDUALS AND ARE ABLE TO FEEL A SENSE OF ACCOMPLISHMENT FOR COMPLETING ASSIGNED TASKS. THESE PROGRAMS ARE FUNDED BY GRANTS FROM THE MARYLAND DEPARTMENT OF HEALTH AND MARYLAND DIVISION OF REHABILITATION SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Hotaling CFO | Officer | 50 | $162,414 |
Michael Meyer CEO | Officer | 50 | $158,711 |
Steven Krotonsky President | Officer | 40 | $151,511 |
Joe Silhavy Board Chair | OfficerTrustee | 1 | $0 |
Joseph Donegan Vice Chair | OfficerTrustee | 1 | $0 |
Lucy Tannozzini Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $617,460 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,771 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,231 |
| Total Program Service Revenue | $11,352,407 |
| Investment income | $9,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,029,029 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,170,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $499,142 |
| Compensation of current officers, directors, key employees. | $217,859 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,028,946 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $701,681 |
| Payroll taxes | $675,206 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $285,050 |
| Fees for services: Accounting | $54,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $167,352 |
| Office expenses | $0 |
| Information technology | $95,206 |
| Royalties | $0 |
| Occupancy | $2,480,515 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $96,086 |
| Payments to affiliates | $104,555 |
| Depreciation, depletion, and amortization | $580,076 |
| Insurance | $72,415 |
| All other expenses | $932,641 |
| Total functional expenses | $15,295,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Goodwill Industries Of Monocacy Valley Inc has recieved totaling $21,724.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Frederick County Maryland Incorporated Frederick, MD PURPOSE: CAPITAL IMPROVEMENT FUND, PROGRAMS THAT TRAIN & EDUCATION PERSONS WITH DISABILITIES, UNRESTRICTED | $9,724 |
Goodwill Industries International Inc Rockville, MD PURPOSE: GOOGLE-GDCA | $6,000 |
Goodwill Industries International Inc Rockville, MD PURPOSE: GOOGLE-GDCA | $6,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwill Industries Of Kanawha Valley Inc Charleston, WV | $30,172,970 | $25,914,576 |
Goodwill Industries Of N Ctrl Pa Falls Creek, PA | $18,520,685 | $23,318,878 |
Goodwill Industries Of The Valleys Inc Roanoke, VA | $51,978,727 | $17,146,868 |
Goodwill Industries Of Northeastern Pa Scranton, PA | $3,646,825 | $19,267,425 |
Goodwill Industries Of Monocacy Valley Inc Frederick, MD | $0 | $13,170,888 |
Goodwill Of The Southern Alleghenies Inc Johnstown, PA | $25,401,330 | $17,363,905 |
Goodwill Mennonite Home Inc Grantsville, MD | $23,232,855 | $12,827,599 |
Hagerstown Goodwill Industries Inc Hagerstown, MD | $19,034,598 | $11,159,365 |
Goodwill Industries Of Kyowva Area Inc Huntington, WV | $10,410,697 | $9,221,373 |
Goodwill Services Inc Harrisburg, PA | $1,174,955 | $4,133,942 |
Cumberland Goodwill Fire Rescue Ems Inc Carlisle, PA | $2,706,189 | $4,365,885 |
Rappahannock Goodwill Industries Fredericksburg, VA | $24,201,688 | $12,703,768 |